U.S. News
Trump Proposes 10 Percent Cap on Credit Card Rates
Clear Facts
- President Donald Trump announced a planned cap of 10% on credit card interest rates for one year starting January 20, 2026.
- The average credit card interest rate in the U.S. is currently 23.79%.
- As of the third quarter of 2025, Americans owe $1.23 trillion in credit card debt.
President Donald Trump has declared his intention to pause credit card interest rates at 10% for a year, beginning January 20, 2026.
This move targets sharply higher average rates seen in recent years and addresses concerns of Americans facing rising debt and financial pressures.
“Please be informed that we will no longer let the American Public be ‘ripped off’ by Credit Card Companies that are charging Interest Rates of 20 to 30%, and even more, which festered unimpeded during the Sleepy Joe Biden Administration. AFFORDABILITY!”
He posted this statement to Truth Social, outlining his economic focus.
“Effective January 20, 2026, I, as President of the United States, am calling for a one year cap on Credit Card Interest Rates of 10%. Coincidentally, the January 20th date will coincide with the one year anniversary of the historic and very successful Trump Administration. Thank you for your attention to this matter. MAKE AMERICA GREAT AGAIN!”
According to current data, credit card interest rates reach an average of 23.79%.
The nation’s credit card debt stands at $1.23 trillion as reported for the third quarter of 2025.
Over 80% of Americans have a credit card, showing how widespread this issue is for families and individuals.
It is not immediately clear if legal challenges or opposition may delay or prevent this cap from taking effect.
This move follows other economic steps by President Trump, including recent action to prevent institutional investors from buying single-family homes.
“For a very long time, buying and owning a home was considered the pinnacle of the American Dream. It was the reward for working hard, and doing the right thing, but now, because of the Record High Inflation caused by Joe Biden and the Democrats in Congress, that American Dream is increasingly out of reach for far too many people, especially younger Americans,”
he stated, reflecting traditional American values and frustrations with current economic policies.
On Thursday, President Trump ordered a $200 billion purchase of mortgage bonds to help address home affordability.
“This will drive Mortgage Rates DOWN, monthly payments DOWN, and make the cost of owning a home more affordable,”
he said, emphasizing his commitment to financial relief for American families.
Affordability has become a recurring theme in President Trump’s campaign messaging as the nation approaches the November elections.
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